The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-08-28
AND MINING.
The Demand for Money Not
Up to the Supply.
ORE AND BULLION OUTPUT.
OutIoOk-T Tho Empire Re-
org anized.

The week at the banks is recorded as
having been somewhat dull. The heat
of August always has depressing ef-
feet on trade, and it is usually the
month in which comes the lull before
the fall life and hustle. There is very
good feeling about town over business
prospects this fall.
A the Deseret Ma tional Bank, money
is reported in fair demand-though it is
plentiful enough to supply demand
good deal stronger than at present
exists.
No local sales of stock are recorded.
Mr.. Schettler says his offer of SOS for
Coop. is standing offer, Nut no one
has been found willing to st
Our railroad bonds continue to stiffen
in New York. The last quotations were
Southerns 1896, Extensions $95.
The gross earnings of the ID. d r. 6.
for the second week in August were
S162 900, against SAL $40 during the
corresponding week in 1886.
OF the crop outlook of the country,
Dun & Co.'s Review has this to say:
Everything now turns on crop pros
poets. Considerable injury is no longer
disputed; indeed, its effects are already
felt in diminishing demand. from
regions most effected by the drought,
for some manufactured products. But
estimates of the harm done differ
widely. Chicago and Detroit adyices
indicate that rains were too late to save
considerable portion of the corn crop,
but after declining ~ cents On the
growing impression that the injury
would not prove so extensive as to
balance the increase in acreage, the
price rose as much on reports of injury
by frost on Thursday. Latest Govern
ment reports point to probable vie d
slightly less than that of last year.
Wheat rose half cent on Wednesday,
but lost the advance; injury to this
crop does not appear important, and
official figures point to yield exceed
ing 4S0000000 bushels, which with
stocks carried over, would meet all
probable requirements.
The statement that Mackay and
Flood guaranteed loans by the bank OF
Nevada to wheat buyers. and the diff
Guilty and delay in adjusting the san
Francisco speculation, affect other in
terests unfavorably. The cotton specu-
lation has resulted in further decline,
aud while New Orleans reports as to the
yield are less favorable, Atlanta and
Galveston report improvement from
recent rains. The injury to rice from
drought and freshets is estimated in
Savannah at go, coo to 100000 bushels.
What may prove the most serious effect
of the long drought-the injury to pas
lures and the hay crop, and consequent
losses in dairy and animal products-.s
often overlooked. But the movement o.
grain from the North Vest is remarkably
large, though lake transporters get the
lions share of it; Buffalo July receipts
by lake have never been exceeded bu
once, while the latest report of east
bound rail shipments from Chicago il
the smallest for many years.
THE MONETARY SITUATION
has one unfavorable and several favor
able features. Stringency increases a
several interior points, and reports {
unsatisfactory or "only fair" collection
, grow more numerous. But the pur
chase of bonds by the Treasury, tn
shipments of gold from Europe, ant
; the sales of securities abroad by Mr.
, Gould and by some German house
here, appear to avert pressure in thi
market for the present. Exports il
July were more satisfactory, and TO
the past three weeks have been slight!
larger than for the same weeks las
year, and while the reports of gold OF
the way from Europe are probably ex
aggerated for effect, the outward move
ment of securities undoubtedly con
tinues. The possibility of importan
/. failures resulting from recent darin
j.. speculations, and the chance of larg
demands for money from the west an
south, are not to be safely overlooked